An overview of the WIFA loan application process

Community identifies a
need for a capital
improvement project
Community files a project priority
list application (“PPLA”) with
WIFA for inclusion on the Clean
Water or Drinking Water Project
Priority List (“PPL”)
Once on the PPL, a community must meet WIFA’s ‘readiness to
proceed’ criteria: demonstrate legal, financial, technical,
managerial and institutional capability. A community must also
have the required debt authorization.
Debt authorization - A borrower has obtained the legal approval of its
governing body via resolution OR its constituents via a bond election OR
begin special assessment process OR a financing application/order has
been approved by the Arizona Corporation Commission (private water
companies) in order to move forward with a project finance application.
Request a Project Finance
Application (“PFA”) from
WIFA staff
Submit completed PFA to WIFA eight (8) weeks to a prior
semi-monthly board meeting
(Meetings held the 3rd Wednesday in February, April, June, September, October, December)
Once PFA is submitted, WIFA staff conducts site visit with community,
as required
WIFA staff reviews PFA;
prepares due diligence report for
WIFA Board consideration
WIFA Project Finance Committee
(PFC) reviews and recommends
action on request
(1st Wednesday of a Board meeting month)
If WIFA PFC recommends
approval, application scheduled
for Board action at next regular
meeting
WIFA Board of Director’s acts on
community’s request
If approved, WIFA staff develops
draft loan documents for
community review
Once loan documents are
reviewed, local governing body
adopts the loan documents via
authorizing resolution
Set a date for loan closing; close
www.azwifa.gov the loan; funds become available
Phone (602) 364-1310 ■ Toll- free (877) 298-0425 ■ Fax (602) 364-1327
An overview of the WIFA Loan Application Process
05/06

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Community identifies a
need for a capital
improvement project
Community files a project priority
list application (“PPLA”) with
WIFA for inclusion on the Clean
Water or Drinking Water Project
Priority List (“PPL”)
Once on the PPL, a community must meet WIFA’s ‘readiness to
proceed’ criteria: demonstrate legal, financial, technical,
managerial and institutional capability. A community must also
have the required debt authorization.
Debt authorization - A borrower has obtained the legal approval of its
governing body via resolution OR its constituents via a bond election OR
begin special assessment process OR a financing application/order has
been approved by the Arizona Corporation Commission (private water
companies) in order to move forward with a project finance application.
Request a Project Finance
Application (“PFA”) from
WIFA staff
Submit completed PFA to WIFA eight (8) weeks to a prior
semi-monthly board meeting
(Meetings held the 3rd Wednesday in February, April, June, September, October, December)
Once PFA is submitted, WIFA staff conducts site visit with community,
as required
WIFA staff reviews PFA;
prepares due diligence report for
WIFA Board consideration
WIFA Project Finance Committee
(PFC) reviews and recommends
action on request
(1st Wednesday of a Board meeting month)
If WIFA PFC recommends
approval, application scheduled
for Board action at next regular
meeting
WIFA Board of Director’s acts on
community’s request
If approved, WIFA staff develops
draft loan documents for
community review
Once loan documents are
reviewed, local governing body
adopts the loan documents via
authorizing resolution
Set a date for loan closing; close
www.azwifa.gov the loan; funds become available
Phone (602) 364-1310 ■ Toll- free (877) 298-0425 ■ Fax (602) 364-1327
An overview of the WIFA Loan Application Process
05/06